Businessman Jodrey remembers charities in will

BRIDGEWATER — The head of one of Canada’s wealthiest families left most of his possessions to his wife and children, but John Joseph Jodrey did not forget about the institutions he cared about.

J.J. Jodrey, whose family was named the 100th wealthiest in Canada last year by Canadian Business Magazine with an estimated net worth of $600 million, died Feb. 19 at the home on Shaw Island in Chester he shared with his wife Uriel Maxine. He was 98.

The noted industrialist and philanthropist was inducted into the Nova Scotia Business Hall of Fame in 1994.

Jodrey’s will was drawn up in 2005 and probate was granted at the Bridgewater courthouse on April 17.

A codicil to the will states Jodrey was worth $14,504,400, a figure consisting of his real property, valued at $1,494,200, and personal property, valued at $13,010,200, including insurance, RRSPs and pensions.

In the will, Jodrey gave his wife all his personal, domestic and household-use possessions, including “consumable stores, automobiles and boats,” with the exception of his boat named Windy Boat that he left to
his son Bruce.

Jodrey also gave his wife their home on Willow Street in Hantsport and directed that she continue to take care of their property on Shaw Island.

In addition to the boat and a gift of $250,000, Jodrey said in his will that he forgives his son his indebtedness to him and releases him from paying back whatever he owes.

Daughter Kathryn was given a gift of $500,000 and an option agreement on parcels of land known as Beachettes in Montserrat in the West Indies.

Jodrey stressed that any bequest to a female beneficiary “shall be and remain her private property free from the control of any husband she may marry,” and that it cannot be put toward any husband’s debts.

Jodrey left $100,000 to his daughter-in-law Johanna and $25,000 each to the Dalhousie Medical Research Foundation, of which he was a former director, Dalhousie University and Acadia University. Another $5,000 went to Scouts Canada in Nova Scotia.

Jodrey created scholarships and served on the board of governors of Acadia University, where he helped establish the Jodrey School of Computer Science and the Roy and Isabel Jodrey student residence.

He had honorary degrees from Dalhousie, Acadia and the former Technical University of Nova Scotia.

Jodrey was chairman of Scotia Investments Ltd. for nearly 60 years. His father Roy founded the company in Hantsport in 1945.

Jodrey’s will said that of the 1,500 shares he had in Scotia Investments, 500 each were to go to his son and daughter and 250 each to grandsons Jeffrey and Michael. Of the 2,000 shares he held in Blomidon Investments Ltd., 667 each were to go to his son and daughter and 333 to each of his grandsons.

He directed that a trust company be appointed as his family’s agent in managing his estate and that an investment company be hired to give the family advice on investments for his estate.

Jodrey said his wife, the executor of his will, must preserve his estate and keep the arrangement of companies as long as it’s in the best interests of his estate and its beneficiaries. He also ordered the family to consent to the reorganization of any corporation in which he had shares, bonds or debentures and to accept shares or bonds of any company formed as a result of that reorganization.

Jodrey directed that the assets of his estate be managed as if he were still alive, with property sold and investments retained as deemed advisable.

When Jodrey was named to the Order of Canada in 1999, the Governor General’s office said: “He is a successful entrepreneur and businessman who, without fanfare, has created employment and educational opportunities for Canadians.”

He was credited with diversifying the Atlantic region’s economy and providing thousands of full-time jobs.

The Jodrey business empire includes such companies as Maritime Paper Products, Minas Basin Pulp and Power and CKF Inc., maker of the Royal Chinet line and Canada’s biggest manufacturer of single-use paper plates.

His business interests also include Scotia Recycling, Avon Valley Greenhouses and BioMedica Diagnostics, maker of portable medical diagnostic devices.

Jodrey was a former director of Algoma Central Corp., the Bank of Nova Scotia, Crown Life Insurance and Extendicare as well as a former corporate director of Ben’s, L.E. Shaw, Halifax Developments and Moirs.

Jodrey also asked that donations upon his death be made to the Hantsport Memorial Community Centre, which he helped found, or charity of choice.